Sector News

International Flavors to acquire Fragrance Resources

November 7, 2016
Food & Drink

New York-based International Flavors & Fragrances Inc. recently announced that it has agreed to acquire the privately-held fragrance company, Fragrance Resources. Financial terms of the deal were not disclosed.

As revealed, Fragrance Resources is recognized for its product line of specialty fine fragrances. The company serves its customers through its facilities in Germany, North America, France, and China.

International Flavors & Fragrances intends to fund the transaction through its existing resources. Completion of the transaction, anticipated in Jan 2017, is subject to fulfilment of customary closing conditions and regulatory approvals.

With the addition of Fragrance Resources, International Flavors & Fragrances expects to boost its fragrances businesses among faster-growing regional customers. The acquired assets are anticipated to generate incremental revenues of $75 million in 2017 as well as modestly boost earnings in the year.

We believe such acquisitions are consistent with International Flavors & Fragrances’ expansionary policy and its Vision 2020 business strategy. The company prefers to invest in acquisitions as a means to gain access to new customers, regions and technologies. A diverse portfolio and product mix, along with new business wins, should help it deliver solid results in the quarters ahead.

Source: Zacks

comments closed

Related News

November 28, 2021

“Free from” trends take on myriad of meanings as health and environmental concerns come into sharper focus

Food & Drink

Free-from is becoming much more mainstream, moving beyond food allergens and intolerances. While it’s still vital to innovate products for lactose intolerance, gluten allergies and so forth, the umbrella term of free-from has taken on many different meanings.

November 28, 2021

Arla Foods Ingredients unveils milk fractionation tech for infant, sports and medical nutrition

Food & Drink

Arla Foods Ingredients (AFI) is targeting infant formula, sports nutrition and medical nutrition with its new patented milk fractionation technology that separates milk proteins from whey, bypassing the need to make cheese. The Denmark-based company says this move enables scientists, nutritionists and health professionals to create “next-generation” dairy products.

November 28, 2021

Oatly opens first Chinese production facility

Food & Drink

Located in Ma’anshan, Anhui province, the facility has the potential to produce an estimated 150 million litres of oat-based products annually at full capacity. The opening comes just a few months after Oatly – which claims to have established a new Chinese character for ‘plant-based milk’ – inaugurated its first Asian factory in Singapore.

Send this to a friend